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The German government has decided to halt the sale of its shares in Commerzbank. This move aims to maintain the bank's independence amid a surprise acquisition of a 9% stake by the Italian bank UniCredit. Currently, the government holds a 12% stake in Commerzbank, which it acquired during the financial crisis to stabilize the bank. The decision to stop further sales comes as UniCredit considers increasing its stake to nearly 30%, a move that would require approval from the European Central Bank..

British Prime Minister Keir Starmer has decided to stop accepting clothing donations following mounting criticism. His office announced the decision, which also applies to Deputy Prime Minister Angela Rayner and Finance Minister Rachel Reeves. Since December 2019, Starmer had received gifts valued at over £107,145, making him the top recipient among Parliament members. These gifts included concert tickets, football match passes, and luxury clothing from prominent donors like Labour peer Waheed..

Donald Trump's financial future is intricately linked to the performance of Trump Media & Technology Group, the parent company of Truth Social. As Trump holds a significant stake, approximately 58%, the company faces substantial pressure following the expiration of lock-up agreements. Recent trading days have seen the stock plunge to record lows, reflecting a broader trend of decline since its peak in April. The company's financials reveal a stark reality, with reported losses exceeding $300 m..

Boeing is grappling with a significant crisis as over 30,000 machinists strike, causing a halt in production across multiple plants. The strike follows workers' rejection of a 25% pay raise offer, reflecting deep frustration with management. In response, Boeing has implemented layoffs and furloughs for non-union staff, aiming to preserve cash amid financial instability. The company's credit rating is at risk, and soaring losses could escalate if the strike drags on. With a loss of trust between..

U.S. bank stocks experienced a notable surge after the Federal Reserve's recent interest rate cut. Major banks and regional indexes saw significant gains, with the KBW Nasdaq Bank index leading the way. The rate cut has sparked optimism, drawing parallels to the successful 1995 rate-cutting cycle. However, Moody's cautions that the initial impact on credit could be negative due to tightening net interest income. Analysts have mixed views on future earnings, with some predicting higher loan loss..

Tupperware, an iconic brand founded in 1942, revolutionized the kitchen with its innovative plastic containers and direct sales approach. Under the visionary leadership of Brownie Wise, it empowered many women by creating entrepreneurial opportunities. However, the company faces an uphill battle, filing for Chapter 11 bankruptcy amidst significant financial woes. A marked decline in demand, driven by environmental concerns and a growing aversion to plastic, has crippled sales. The anti-plastic..

The impasse between the European Commission and China regarding battery electric vehicles remains unresolved. Recent discussions between Chinese Commerce Minister Wang Wentao and EU Trade Vice-President Valdis Dombrovskis yielded no significant progress. Both parties expressed a commitment to exploring effective solutions but are facing internal pressures. Spanish Prime Minister Pedro Sanchez urged a reevaluation of proposed tariffs on Chinese electric vehicles, reflecting concerns within the..

Mathias Döpfner, CEO of Axel Springer, and Friede Springer plan to split the company to regain control over its journalistic assets, including 'Bild' and 'Welt'. The US private equity firm KKR and the Canadian pension fund CPPIB will take over the majority of the digital classifieds business, valued at over €10 billion, with the whole group worth €13.5 billion. This move aims to create a digital news powerhouse and provide Döpfner with more control and financial resources for his ambitions. The..

Former President Donald Trump's new venture into cryptocurrency, World Liberty Financial, has sparked significant criticism due to perceived conflicts of interest. Critics argue that Trump, while campaigning for presidency, could manipulate regulations in favor of the crypto industry, which he is directly involved in through his family business. The project, led by his sons Eric and Don Jr., has raised eyebrows over its allocation structure, with 70% of tokens reserved for insiders. This unusual..

The European Commission is intensifying its scrutiny of Apple, focusing on the company's compliance with the Digital Markets Act (DMA). This regulatory framework aims to ensure fair competition by mandating interoperability among devices. Central to the Commission's concerns are Apple's App Store restrictions, which allegedly impose unfair fees on non-Apple music services. In response, the consumer group Euroconsumers has initiated a class action to reclaim €62 million for affected users. The..

Tech companies, including Meta, Google, and X, have voiced concerns about the EU's unpredictable digital policies. They argue that the current regulations, such as the EU AI Act and GDPR, hinder innovation and delay product launches. These companies call for harmonized, coherent, fast, and clear decisions from data protection authorities to allow the use of European data for AI training, benefiting Europeans. The strict regulations, including mandatory labeling of AI-generated content and bans..

The European Court of Justice has ruled that Booking.com’s best price clauses violate EU competition law. These clauses, which prevented hotels from offering lower prices on their own websites, have been deemed unlawful. The decision is a victory for the hotel industry, which hopes for compensation and more competitive pricing. Booking.com had already abolished these clauses across the European Economic Area following the EU Digital Markets Act. The ruling reinforces earlier decisions by the G..

The skilled trades sector plays a vital role in the German economy, contributing 16.6% of its total composition and generating 7.4% of the overall sales, amounting to 720 billion euros. Notably, 67% of construction companies fall within this category. Despite a slight dip in overall employment, the sector experienced a sales surge of 9.3%, largely driven by a 6.9% rise in the consumer price index. Specific areas, including trades for private and commercial needs, demonstrated robust growth. Ho..

The recent announcement of Intel's postponed factory construction in Magdeburg has sparked significant discussion in the Saxony-Anhalt state parliament. Minister President Reiner Haseloff addressed the situation, facing criticism and calls for an investigative committee, particularly from the AfD party. Key issues include the use of subsidies and the overall plans for the project, which remain unclear. Alongside the Intel debate, legislators are also addressing border control and migration con..

Economics Minister Martin Kocher has announced immediate short-time work options for companies impacted by recent floods. Businesses can now apply for this support through the AMS, even retroactively up to three weeks. This initiative does not require a social partner agreement, simplifying the process significantly. The measure offers a net replacement rate of 90%, with working hours reduced by 10-90%. During the pandemic, similar short-time work support amounted to 10 billion euros. New, str..

Major companies in Germany are committing to invest approximately 12 billion euros in venture capital by 2030. This initiative aims to bolster the start-up ecosystem and address a financing gap of about 30 billion euros annually. Leaders from various sectors, including Allianz and Deutsche Bank, recognize the urgency to support innovative technologies and reduce investment barriers. The Start-Up Association emphasizes the need for a tripling of venture capital investments to rejuvenate the eco..

Meyer Burger, the Swiss photovoltaic manufacturer, has announced a significant reduction in its European workforce. The company plans to cut its global staff from around 1,050 to approximately 850 by the end of 2025. This reduction will disproportionately affect Europe, as Meyer Burger simultaneously expands its production capacity in the United States. The announcement coincides with a leadership shake-up: CEO Gunter Erfurt is stepping down, to be replaced by Frank Richter, who brings extensive..

Google has recently achieved a significant legal victory as a European court annulled a €1.49 billion fine imposed by the EU for alleged abuse of market dominance through its AdSense service. This decision highlights the ongoing complexities in regulatory actions against major tech companies. However, the same court upheld a separate €2.4 billion fine linked to Google's practices in Google Shopping, emphasizing the EU's commitment to combating competition distortions in the digital market. The..

Amid a significant strike, Boeing has announced extensive cost-cutting measures, including a hiring freeze, unpaid employee furloughs, and suspension of some salary increases. CFO Brian West stated the company is in a 'difficult phase,' with the strike severely hindering recovery efforts. Boeing has also canceled non-essential business travel, restricted remaining travel to economy class, and frozen expenditures on advertising, marketing, and charitable activities. The strike, involving over..

Lidl is set to enhance its footprint in Germany with the opening of several new stores by the end of 2024. Notably, two locations will debut this year within Galeria sites, boasting an extensive range of over 4,300 products. Among these offerings, the chain emphasizes its commitment to diversity, including 1,000 vegan items. This expansion reflects Lidl's strategy to meet growing consumer demand for variety and sustainability in grocery shopping. As the company continues to broaden its reach,..